Product ID: UCMIG45D2083
Report ID:
UCMIG45D2083 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The global market for in-vehicle payment systems had a value of USD 1.12 billion in 2022 and is anticipated to experience significant growth, reaching USD 6.18 billion by 2030, with an estimated compound annual growth rate (CAGR) of 22.03% between 2023 and 2030. These systems, integrated into vehicles, incorporate e-commerce technologies, allowing users to make payments for various purposes like tolls, smart parking, fuel stations, and charging stations. Additionally, passengers can make purchases directly from their vehicle's dashboard, reducing the need to use smartphones while driving. The growing demand for convenient and secure contactless transactions is fueling the adoption of in-vehicle payment services.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Internet Services & Infrastructure by segment aggregation, the contribution of the Internet Services & Infrastructure in Software & Services and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Product ID: UCMIG45D2083